MIDAQ has acquired 70% of the shares in Svenska Bad AB, Nordpool SPA AS and Boanäs Fastighets AB from Mikael Karlsson and Magnus Karlsson.
Svenska Bad was founded in 2006 and is a leading player within spa baths in Scandinavia. The company supplies both the Nordic and European markets with premium spa baths developed for the Nordic climate. With proprietary and strong brands such as Svenska Bad, Nordpool and Svenska Pro the company has successfully placed great emphasis on design, quality, and sustainability. The business in conducted in Östra Frölunda in Sweden and in Oslo in Norway with a group turnover of around EURO 32 million.
“It feels very good that we have found a long-term owner with experience of developing strong brands in the outdoor segment. We are in a strong growth phase and through MIDAQ we get an owner who also has experience of geographical expansion”, says Mikael Karlsson, CEO of Svenska Bad.
”We are very happy that we have got the opportunity to become new principal owners. Svenska Bad with its strong brands and products fits well into our business area MIDAQ Outdoor Living and our continued growth journey”, says Stefan Engdahl, CEO of MIDAQ.
The business will continue to be led by CEO Mikael Karlsson. Svenska Bad, Nordpool SPA AS, and Boanäs Fastigheter AB will be part of MIDAQ’s business area Outdoor Living. The business area also includes brands such as Hillerstorp, Gårdsman and Simons, which are led by CEO and business area manager Jonas Netterström.
MIDAQ AB is an investment company that invests in and develops medium-sized companies with established business models, leading market positions, own products or services and strong brands. The business is conducted within the business areas Outdoor Living, Indoor Living, Relocation and Consulting.
IMAP advised the sellers throughout the process.